Posts Tagged ‘Rewards’
Keeping employees motivated has never been as important as during the current economic downturn. As companies reduce their workforces, employees need to work at optimal levels to ensure increased productivity and profitability.
Now more than ever, organizations must be proactive and have the right strategies in place to keep employees motivated.
Valued employees who feel appreciated for their hard work and efforts are more engaged in their organization, therefore demonstrate high productivity and efficiency.
To be effective, all rewards and recognition must be:
- Timely. Recognition should be as immediate as possible. If you don’t thank someone until long after the effort, it diminishes the importance and sincerity.
- Continual. It should be an ongoing part of your culture. Don’t make rewards seem like after-thoughts.
- Customized. Rewards and recognition need to make sense in your culture and to your employees.
- Balanced. Think about appropriate levels of gratitude for the action you are recognizing. For example, offering a gift certificate to say thank you for a job well done and something more substantial when someone has achieved a milestone for the organization.
“Appreciate everything your associates do for the business.
Nothing else can quite substitute for a few well-chosen,
well-timed and sincere words of praise.
They’re absolutely free and worth a fortune.”
~ Sam Walton
Once you have engaged, empowered, and enriched employees lives, you have their attention. To have their heart, they need to feel appreciated, rewarded, recognized and valued.
To maintain your skilled workforce and your loyal and engaged employees, it is important to make sure your employees know their efforts matter. Appreciation comes in all forms, shapes and sizes. The best meet the specific needs of the individual.
Sometimes a $5 gift certificate to Starbucks, Dunkin Donuts or McDonalds — or a simple chocolate bar — can put a huge smile on someone’s face and energize them with more than just a sugar high. It is amazing to see people light up. It is the simple things that make a difference. The simplest and most inexpensive are often words.
I really appreciate all your work!
It’s the small things that can really make your day or even your week. Usually it’s a gesture from someone acknowledging something you have done. Small things do matter. If you do not believe it, just get into the habit of thanking people and see what happens.
Welcome to the Loyalty Factor Information Exchange, a bi-weekly service providing summaries of major publications and books on various management and customer relationship topics.
Loyalty Factor has been instrumental in helping companies:
- Increase Customer Satisfaction by 20 – 33%
- Increase Revenues by 50% in 18 months
- Increase Manufacturing Production by 200% in 18 months
- Simplifying mergers and acquisitions
Our information exchange this week highlights the Motivational Manager article, “Make Recognizing Employees Part of Your Daily Routine.”
Make Recognizing Employees Part of Your Daily Routine
Good managers remember to recognize and motivate employees. Great managers do it every day.
Here are some proven methods for making sure that praising employees becomes part of your daily routine:
- Make employees a part of your weekly “to do” list. Add the names of the people who report to you to your list of goals to accomplish. Then cross off names as you praise them.
- Use voice mail. Rather than using it only to assign tasks, leave employees voice mail messages praising them for a job well done. Do it from your cellular phone on the way home.
- Write notes at the end of the day. Keep a stack of note cards on your desk, where you can’t ignore them. At the end of the day, take a minute to write thank-you notes to any employee who made a difference that day.
- At the beginning of the day, put five coins in your pocket. Then, during the day, each time you praise an employee, transfer a coin to your other pocket. It may sound corny, but once you get in the habit, you’ll start relying on tricks like this one.
For more information on clever, effective and economical ways to recognize effort and reward results of your employees, contact Loyalty Factor at 603-334-3401. We have numerous presentations, seminars and workshops on the topic.
And be sure to use the two most underutilized words…